Gulf Keystone Petroleum Share Discussion Threads

[highlander7] 01/8/2022 06:16

Probably gone to transfer their GKP dividends ?

H7

[elbigbear] 31/7/2022 21:06

Where have the filthy animals gone?

[hydrocarbon1] 31/7/2022 20:52

ptmorris1, your probably not the only one doing that. they are trying to save customers. II have had every Divi in my account by 11.00am on the day and their trading prices are decent. i don't use a broker for advice so will not pay the premium some charge.
Good luck with your transfer.

[meanreverter] 31/7/2022 19:48

Punter26 — Thanks for the links. Eric Nuttall and Adam Rozencwaig are the two most intelligent energy analysts that I know. They are always worth listening to (IMHO, of course).

[11_percent] 31/7/2022 14:30

Good to see a new BB for GKP.....it was sadly needed.....thanks Pro.

[ptmorris1] 31/7/2022 12:56

@1khufu,
I've been with First Direct from almost the start when Midland Bank started it. However, I feel that this relationship is doomed. Agreed with their very poor shareholding service as you have quite rightly highlighted above hence one's move to ii. Now they are calling me (three calls this morning between us after they blocked my card) as to why I wish to move money out of my account and to where and why! I kid you not. All for my safety apparently ....

[1khufu] 31/7/2022 12:47

Turvart - thanks smart investor- I'm presently with First Direct Bank part of HSBC. It took 10 days to get the first divi. I will change.

[bhxian] 31/7/2022 12:09

Hydro.Thank you.I am sure that there will be many others,as well as myself,who will greatly appreciated the clarification.

[hydrocarbon1] 31/7/2022 11:59

10 Things to Know about M&A in Bermuda
hxxps://chambers.com/articles/10-things-to-know-about-ma-in-bermuda

4. What is the difference between an amalgamation and a merger under Bermuda law?

In Bermuda, the amalgamation of two or more companies and their continuance as one entity is a well-established concept. However, Bermuda company law was fairly recently updated to allow for mergers, which is the business combination used in the US and the UK.
The main difference between a merger and an amalgamation is that an amalgamation involves the convergence of the two amalgamating companies and their continuance as a "new" amalgamated company. As a result of an amalgamation, the amalgamated company owns all of the assets, and assumes all of the obligations, of each of the amalgamating companies. A merger, however, involves the merging of one company into another resulting in a vesting of assets and liabilities of the acquisition company into the "surviving company".

[hydrocarbon1] 31/7/2022 11:54

bhxian31 Jul '22 - 11:17 - 35 of 35
Hi BHX, this is a post from Nov on other board.. Not mine

BangGone - 05 Nov 2021 - 12:38:42 - 644689 of 659076 THE NEW GKP / Drilling for Super Giants (moderated) - GKP
ReplyRecommend (2)Report Post
BangGone
Posts: 53
Price: 203.50
Strong Buy
How is Bermuda M&A conducted?Wed 08:39
The most common method is for buyers and the target to enter a " sales implementation agreement"
This agreement will cover all aspects of the sale process, including periods for due diligence, obligations of the target to conduct itself during the agreement time frame, break fees, financial matters, etc etc. Conditional exclusivity is normally granted to the buyer(s)for a period of time to allow both technical, and corporate DD.
When all conditions are met , the sale is actually executed very quickly.
The buyer will have already registered a company in Bermuda, and the two companies are merged/amalgamated to complete the sale.
The deal is announced , deal terms are made public to shareholders, and an EGM is called for shareholders to approve the transaction. 50% + majority seals the deal, and this is normally a formality as the buyers will have beneficial ownership + irrevocable guarantees from key shareholders to vote it through.
IMHO GKP entered such an agreement perhaps as far back as 2017.
We know the company allowed CNPC to do detailed fracture studies and well logs. That info is in the public domain .
As we near new FDP - this IMHO is the moment of transition, and we will see a sale by amalgamation announced shortly.
It is possible there are other interested parties. We shall have to see if that's the case or not.

[bhxian] 31/7/2022 11:17

Release,Forgive my lack of understanding.I am originally a solicitor so do understand certain aspects,of which you write.Could you please clarify the final sentence.Are you implying that there is a disconnect between the UK takeover rules or whether, "behind the scenes" they have already been advised that a takeover would be discouraged (perhaps using CMA).My thanks.

[giant_canine] 31/7/2022 10:47

RTK the FD recently presented at a conference that included DNO and GENEL
He was very effusive all the way through until the subject of M+A was raised teasingly to all by the host , and he suddenly seemed mute......
It has been a takeover in waiting ever since restructuring in 2016, indeed the restructuring enabled the company to be sold up without hostile interference.
Note the top 3 holders who are remnants of the former bond holders , who hold and never add or sell, relentlessly since 2016 whatever the share price
There is some contractual arrangement in place IMO that involves them and the BOD , and it would not be a surprise if their exists some sort of call option in place , which would tie in with the company amending byelaws 2019 to allow the board without resolution to buy their own stock off market on any basis they like.
The most value accretive thing the board could have ever done these past 6 years is buy in stock to concentrate profits on what is the most obvious incoming sale , probably ever..............

[punter26] 31/7/2022 10:27

Eric Nuttall, Senior Portfolio Manager at Ninepoint Partners, talks with Financial Post’s Larysa Harapyn about how the oil sell off is a gift to investors.






.....and podcast from Macro Voices website

Adam Rozencwajg: Understanding the Global Energy Crisis (from 17:00 min)

[pro_s2009] 31/7/2022 10:22

Could well be...... you never know.

Not a fan of buy backs.........either pay it in dividends or invest in the business and expand for even higher dividends.

[giant_canine] 31/7/2022 10:19

I believe the lack of in market buyback programs for the past 18 months is another indication that the company has been in a sale implementation process for some time.
As is normal in Bermuda M+A pre closure by short form amalgamation.
The co has undertaken to abide by the the UK Takeover Code, hence in mkt buybacks when the directors know a bid is near are disallowed

[fardels bear] 31/7/2022 10:16

Threats and intimidation against thread owners on advfn is quite common particularly with companies where a lot of money is being made by traders.

[nestoframpers] 31/7/2022 10:02

FB didn't have the time and others couldn't or didn't want to stand in for him , the threats and disinformation about him was designed to get rid of him.

OT Re Green energy comment under vid below

anthony williams
8 months ago
Engineers at Drax power station have told me that burning biomass there decreases the thermal efficiency of the boilers that produce the steam to drive the turbines, by more than 30% compared with burning coal. Furthermore, the silica from burning biomass coats the inner lining of the boilers, which have to be decommissioned for two months in every twelve to remove the glass hard deposits of silica, whereas coal fired burners could be serviced in two weeks of every year. Lastly , most of the biomass burned at Drax comes from Canada via the Panama canal, crosses the Atlantic, up the Irish Sea to the Manchester ship canal, and thence to Drax by railway, a very very ungreen journey. Drax sits on top of a coal mine with known reserves of at least one hundred years.

[highlander7] 31/7/2022 07:16

A better question is why did he stop managing the board and who was behind the threats ?

H7

[releasethekraken] 31/7/2022 06:36

I believe the lack of in market buyback programs for the past 18 months is another indication that the company has been in a sale implementation process for some time.As is normal in Bermuda M+A pre closure by short form amalgamation.The co has undertaken to abide by the the UK Takeover Code, hence in mkt buybacks when the directors know a bid is near are disallowed.

[pro_s2009] 31/7/2022 04:21

And here we have GKP, paying down debt, paying out large divis...... :)

With a circa 25% yield in 2022, GKP is indeed very cheap, yes there is risk, but if the risk never materialises then its extremely cheap and return of cash to shareholders through dividends is the way forward.....once the debt is cleared (very soon) then the dividends can be increased.........





..........In response to low valuations and poor shareholder returns, the industry has shifted to return of capital mode. Companies are rapidly paying off debt, and as they accomplish this, they are buying back shares and paying increasingly large dividends. This shift to a shareholder return focus combined with very low multiples may yield substantial returns even without multiple expansion, with further upside if funds eventually flow into the sector. Ironically, many oil and gas businesses have gotten cheaper through the early stages of this new bull market, as fundamental improvements have outpaced share price appreciation. Therefore, if E&P multiples were to trade in line with historical averages, that could require another step-change in share prices...........

[pro_s2009] 31/7/2022 01:18

Dividend history for 2022 now added to the header.

[0ili0] 30/7/2022 20:55

What about frenchboy3?

[nestoframpers] 30/7/2022 20:49

And on and on it goes , I remember all that as I was there , there is an important point to me posting this , those with a brain will get it .